New borrowing slows as Bank of England’s rate hikes take effect August 30, 2023 Consumer borrowing increased at a slower rate than expected last month as the Bank of England’s interest rate hikes hit demand for new loans. Bank of England figures out this morning showed that the monthly increase in consumer credit was £1.2bn, £400m less than the £1.6bn increase seen in June. Although borrowing on credit cards [...]
Embattled Direct Line confirms Aviva exec Winslow as man to lead turnaround charge August 30, 2023 Adam Winslow, the head of Aviva's UK arm, will attempt to reverse a downward trend for the UK insurer Direct Line
UK housing sales on track to sink to lowest level since 2012 August 30, 2023 The number of housing sales completed over 2023 is on track to sink to its lowest level since 2012, when Britain was still reeling from the financial crash, as higher borrowing costs continue to decimate the market. Sales are also set to be 21 per cent down on last year, according to new data from [...]
Brexit border checks on food delayed for fifth time August 29, 2023 The implementation of post-Brexit border checks on food products coming from the EU has been delayed for a fifth time.
German outlook bleak as consumer sentiment falls again August 29, 2023 German consumer sentiment is expected to fall in September, due to declining income expectations and propensity to buy, a GfK institute survey showed on Tuesday. The institute’s consumer sentiment index fell to -25.5 heading into September from a slightly revised -24.6 in August, below expectations of analysts polled by Reuters of a reading of -24.3. [...]
UBS settles Credit Suisse lawsuit with Swiss financial blog Inside Paradeplatz August 29, 2023 UBS and Swiss finance blog Inside Paradeplatz have settled a lawsuit relating to comments published on the site about Credit Suisse.
FTSE 100 close: London markets storm to two week high August 29, 2023 London’s premier index stormed to a two week high thanks as falling food inflation and hopes of a Chinese stimulus package lifted sentiment. The bluechip FTSE 100 ended 1.7 per cent higher at 7,464.99 while the midcap FTSE 250 rose 1.9 per cent to 18,468.59. Many markets around the world saw strong trading yesterday, when [...]
Trust in supermarkets at 10-year low like ‘dark days of horsemeat scandal’ August 29, 2023 Trust in supermarkets has plunged to its lowest level in nearly a decade as consumers continue to worry about high prices, despite food inflation showing signs of easing. In August the grocery sector received a trust score of +30 -on a scale of -100 to +100 -from British shoppers, a new study by Which? revealed [...]
Bunzl: Giant on a shopping spree with two acquisitions and bumped-up guidance August 29, 2023 Outsourcer buys firms in Poland and the Netherlands as it continues acquisition spree
Food inflation cools but Russia’s exit from grain deal poses threat to prices August 29, 2023 Food inflation cooled once again in August, new figures out today show, in a sign that cost of living pressures in the UK are gradually starting to ease. Food inflation fell to 11.6 per cent in August, down from 14.3 per cent in July, according to fresh figures from the British Retail Consortium (BRC). However, [...]